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Author Topic: [2017-11-09] Coindesk: Bitcoin Gold Sets Sunday Date for Cryptocurrency Release  (Read 3889 times)
cybersofts
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November 09, 2017, 11:47:08 PM
 #1

Bitcoin Gold Sets Sunday Date for Cryptocurrency Release

Bitcoin gold is set to go live this weekend.

In a new blog post, the developers behind the fork of the bitcoin blockchain said that they would release a formal software client for download at 7:00 PM UTC on Nov. 12. Originally set for a public launch on Nov. 1, the project is backed by LightningASIC, a seller of mining hardware based in Hong Kong, as well as a community of relatively unknown developers.

As reported by CoinDesk, the idea behind bitcoin gold is to keep most properties of the protocol, but restrict the use of specialized chips for mining, or the process by which new transactions are added to a blockchain (while also creating new tokens as a reward).

It's also the latest example of a "airdropped" cryptocurrency that will distribute new coins to anyone who owned bitcoin at the time of the split, or up until the date the ledger of transactions started to differ.

Yet in a move criticized by some observers, the team behind bitcoin gold has been mining blocks in insolation since the new network was formally created last month, with a certain amount of coins being set aside to support development.

In comments, the team behind the effort sought to send a signal of confidence to the market, perhaps owing to concerns circulating around the effort.

"We are extremely grateful for the community around the world who have been contributing hash power to our testnets; besides patiently testing their own mining process, they allow exchanges, pools, wallet developers, and all other service operators to implement and test their support of BTG so that the bitcoin gold community can have a full suite of services at launch time," the project's backers said in a statement.

In the days ahead, exchanges will no doubt be watching the launch. Soon after its August release, bitcoin cash, another cryptocurrency that forked the bitcoin network, amassed a nearly $4 billion market value.

Exchanges and traders will no doubt be watching to see if history repeats.




Source: https://www.coindesk.com/bitcoin-gold-release-cryptocurrency-sunday/

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November 10, 2017, 12:07:53 AM
 #2

We have been waiting since October 25, then November 1st, and finally November 12th, free air drop seems like free money in most case as people tend to sell it after get listed on exchanges. But, some questions remaining: which wallet developers, exchanges and pools that support bitcoin gold?
I know waves wallet is the first one which declared support btg, but is there any other? How to synchronize my btc wallet and waves in order to get btg? using private keys? is it safe?



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November 10, 2017, 09:14:33 PM
 #3

We have been waiting since October 25, then November 1st, and finally November 12th, free air drop seems like free money in most case as people tend to sell it after get listed on exchanges. But, some questions remaining: which wallet developers, exchanges and pools that support bitcoin gold?
I know waves wallet is the first one which declared support btg, but is there any other? How to synchronize my btc wallet and waves in order to get btg? using private keys? is it safe?

it is not live yet,read the article!
they are going to issue the official client 12th ,then you will be able to swipe your keys there and get BTG
in ideal world,in reality though,the price has plummeted and for one bitcoin in your wallet you will get 0.015 btc worth of bitcoin gold
not really worth the wait,but yeah free money is free money
you can find wallets supporting bitcoin gold on their site,but if you had no coins there at the snapshot time,you can't get any btg just yet


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November 10, 2017, 10:48:57 PM
 #4

the idea behind bitcoin gold is to restrict the use of specialized chips for mining
The idea behind Bitcoin Gold is "you have money, Bitcoin Gold developers and preminers want money, let's all be happy together".
It's also the latest example of a "airdropped" cryptocurrency
An example of a properly airdropped crypto is Byteball.  This is given to Bitcoin holders regardless of whether they want it or not, and while that's okay, it puts a lot of unnecessary pressure on exchanges when plenty of altcoins with ASIC-resistant algorithms already exist.
In comments, the team behind the effort sought to send a signal of confidence to the market, perhaps owing to concerns circulating around the effort.
Perhaps we should all be considering that failing to have a functioning client over two weeks after the supposed fork date could show that their developers are incompetent?

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